Hong Kong broker Marigold International becomes SGX trading member

SINGAPORE - The Singapore Exchange (SGX) said on Wednesday that Marigold International Securities will join the bourse's derivatives market as its 47th trading member.

Marigold International, a Hong Kong-based securities and futures broker, is a trading and clearing participant of Hong Kong Exchange and Clearing.

SGX head of sales and clients Chew Sutat said the addition of Marigold International will extend the exchange's distribution network in Greater China.

"In recent months, we have seen more brokers from Greater China joining SGX and we expect more to become part of our community as we add more China-related products," he added.

Marigold International's executive director Hudson Ngan said SGX fulfils a global demand for innovative products.

"As a futures commission merchant operating in global markets, we are delighted to be a derivatives trading member of SGX and have our customers directly connect to SGX," he said.

"This also attests to our international operations and we look forward to working closely with SGX."

In addition to 47 trading members, SGX's derivatives market also has 27 clearing members, the bourse said.

In addition, there are 11 clearing members for over-the-counter financial derivatives on SGX AsiaClear, while the securities market has 26 trading members and 26 clearing members.